Is Oprah Winfrey no longer the richest black woman in the world?

Folorunsho Alakija

Oprah Winfrey

The morale of the below report may not be obvious at first reading,
but the morale can never be over emphasised.
Oprah Winfrey is no longer the richest black woman in the world
according to a report by Ventures Africa, an African business magazine
and news service.

According to the report which is available on Ventures Africa's
website, the richest black woman in the world is Folorunsho Alakija, a
61 year-old Nigerian fashion designer and oil tycoon who is worth at
least $3.3 billion, $500 million richer than media mogul Oprah Winfrey
whose wealth Forbes magazine estimated at $2.7 billion in September.


Folorunsho Alakija is the founder and owner of Famfa oil, a Nigerian
oil company which owns a 60% working interest in OML 127, an offshore
oil field which produces 200,000 barrels of oil per day.


Explaining the rationale for the $3.3 billion valuation on Alakija,
Douglas Imaralu, Online Editor of Ventures Africa commented, "Total
E&P recently sold off its 20% stake in a similar oil field to China's
Sinopec for $2.5 billion. The oil field in question has a daily
production capacity of 180,000 barrels a day. Similarly, other hand,
OML 127 in which Famfa has a 60% interest produces about 200,000
barrels a day. When we did the math using the Total-Sinopec deal as a
comparator, we came to the realization that Alakija's stake is easily
worth billions of dollars. We showed our calculations on
ventures-africa.com. At this point, we have no doubt that she is in
deed, richer than Oprah."

The complete calculation of Folorunsho Alakija's net worth is
available on http://www.ventures-africa.com.

"Among other things, Ventures Africa plans to be the global leader in
providing qualified prospects and intelligence on ultra high net worth
(UHNW) individuals in Africa," Douglas Imaralu says. "Through our
weekly feature, Africa's Secret Millionaires, we traverse across the
continent seeking out immensely successful, yet low-key tycoons and
business leaders who have been largely under-reported, and then tell
their stories.

The divide between the two ladies is very clear: What are the sources
of getting the money the have? Are both ways justified? I will like
that for you to decide dear readers.